Johnson & Johnsons 2017 financial statements include the following items (all dollars in millions).

	2017				2016
Balance sheet
Current assets	$	43,088			$	65,032
Current liabilities		30,537				26,287
Total assets		157,303				141,208
Income statement
Sales	$	76,450			$	71,890
Gross profit		51,096				50,205
Net earnings (income)		1,300				16,540

a. Compute the gross profit rate. (Round your percentage answers to 1 decimal place. i.e. 0.1234 as 12.3%.)

b. Compute the net income as a percentage of sales. (Round your percentage answers to 1 decimal place. i.e. 0.1234 as 12.3%.)

c. Compute the current ratio. (Round your answers to 2 decimal places.)

2017 2016 Trend % % a. Gross profit rate b. Net income as a percentage of sales % % C. Current ratio to 1 to 1